Eric H. Light, P.A. has represented numerous businesses and would-be businesses over the years. We have advised and counseled our clients to help them make the best choice in selecting the entity structure of their business, whether it be operated as an S corporation, C corporation, limited liability company (LLC) or limited liability partnership (LLP). Once the business has been established, we refer our clients to other professionals that help them with their payroll services, HR business needs and other tax services. Associated with setting up the new entity we have implemented new shareholder agreements, operating agreements, partnership agreements, and buy-sell agreements. We have extensive experience in converting or merging business entities and advising as to appropriate business jurisdictions. We have also negotiated transactions on behalf of our clients to consummate the sale or purchase of business entities as well as the sale or purchase of specific business assets.
Because one of the main goals of establishing a business entity is the asset protection of the individual business owners, we frequently advise our clients to take certain measures to prevent the likelihood of creditors of an individual owner from potentially coming after assets owned by the business. For instance, we advise our clients against commingling their assets with that of the business entity. Furthermore, the business should be operated as a separate entity and therefore certain formalities should be followed such as annual business meetings where officers and directors are appointed to manage and business agreements should be legitimate and effectively carried out.